Deductible
For some types of auto insurance coverage, you're asked to choose
a deductible. A deductible is the amount of damages you agree to pay
for if you file an auto insurance claim.
Though choosing a higher deductible can substantially lower your auto
insurance premium, if you file an auto insurance claim, you'll
have to pay the full, pre-established amount of the deductible out of
your own pocket in order to receive payment from your auto insurance
company.
Declarations
The declarations page of your auto insurance policy summarizes the factual
information essential to your auto insurance coverage: the policyholder's name
and address, a description of the insured vehicles, the auto insurance premium,
as well as the coverages, limits, and deductibles.
Defensive Driver and Driver Improvement Courses
These courses consist of defensive driving training for drivers of
all ages as well as "mature driver safety courses" intended
for drivers age 55 and over.
In certain states, you may qualify for an auto insurance discount if
you're in the eligible age range and if you've taken one
of these safety courses.
Depreciation
Depreciation is the decline in an object's value due to age, wear and
tear, or obsolescence.
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